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        "asset_scope": "UK_COMPLEX_ASSET",
        "policy_mode": "balanced",
        "policy_mode_description": "UCITS ETFs usually start from a non-complex baseline, but product-level complexity such as synthetic replication, swaps, leverage, inverse exposure, complex debt, commodity roll exposure, or comprehension warnings can override that baseline.",
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        "prompt_version": "complex_asset_extract_v1",
        "captured_at_utc": "2026-06-14T09:48:35+00:00",
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    "confidence": 0.82,
    "review_required": false,
    "decision_rule_applied": "etf_ucits_physical_no_complex_override_rule",
    "product_policy_branch": "ETF",
    "fund_name": "KraneShares CSI China Internet UCITS ETF",
    "isin": "IE0009ZB3ZX2",
    "type": "ETF",
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    "asset_class": "Equities",
    "replication_method": "physical",
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        "inverse": false,
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        "derivatives_core_strategy": false,
        "derivatives_epm_only": false,
        "swaps": true,
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        "unfunded_swap": false,
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        "counterparty_risk": true,
        "structured_payoff": false,
        "capital_protection": false,
        "commodity_futures_roll": false,
        "contango_backwardation": false,
        "coco_or_at1_exposure": false,
        "clo_exposure": false,
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        "illiquid_or_hard_to_value_underlying": false,
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        "crypto_digital_asset": false
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        "Physical replication",
        "No leverage identified",
        "No inverse exposure identified"
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        "risk_level": "moderate",
        "drivers": [
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            "Derivative powers appear permission-based rather than evidenced as core exposure",
            "Counterparty risk language identified",
            "UCITS ETF structure",
            "Physical replication or direct portfolio holdings"
        ],
        "plain_english_explanation": "The product is identified as a UCITS ETF using physical replication or direct portfolio holdings. No leverage, inverse exposure, synthetic replication or structured payoff was identified. Some ordinary market, credit, duration, liquidity or counterparty-risk language may still be present, but this does not by itself make the product complex.",
        "appropriateness_note": "This is a product-level indicator of features that may affect general investor understanding. It does not determine whether the product is appropriate for a specific client and does not replace a client-specific appropriateness assessment."
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            "signal": "securities_lending",
            "quote": "The Fund may engage in securities lending but does not intend to use repurchase agreements or total return swaps."
        },
        {
            "source": "KIID",
            "signal": "ucits",
            "quote": "This ICAV is authorised as a UCITS in Ireland and regulated by the Central Bank of Ireland."
        },
        {
            "source": "KIID",
            "signal": "physical_replication",
            "quote": "The Fund seeks to hold all the securities of the Index with the approximate weightings that they have in the Index. The Fund does not intend to use financial derivative instruments."
        }
    ],
    "supporting_data": "UCITS physical ETF baseline applied. Policy mode: balanced. Product type: ETF. UCITS signal identified. Replication method: physical.",
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    ],
    "warnings": [
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        "swap_permission_language_identified_not_core_strategy"
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            "http_code": 404,
            "bytes": 1251,
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        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE0009ZB3ZX2_FS.txt",
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            "http_code": 200,
            "bytes": 215,
            "error": null
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        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE0009ZB3ZX2&size=3",
            "found": true,
            "http_code": 200,
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